Capital allocation remains conservative, with dividend distributions of $3.2 million in 2026Q1 representing less than 30% of quarterly net income, prioritizing organic growth over aggressive capital returns.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 |
|---|
| Cash from Operations | 44.92M | 26.59M | 38.98M | 63.34M | 57.27M | -1.62M | 17.09M | 30.12M | 30.68M | 21.21M | 40.2M | 56.84M | 17.96M | 27.79M | 9.72M | 27.2M | 385.99K | 13.75M | 3.74M | 5.37M | 6.21M | 2.87M | 485.15K | -610.23K |
| Operating CF Growth % | 721.47% | -31.8% | -38.45% | 10.61% | 3641.56% | -109.46% | -43.26% | -1.83% | 44.66% | -47.23% | -29.29% | 216.42% | -35.35% | 185.92% | -64.27% | 6946.35% | -97.19% | 267.89% | -30.38% | -13.52% | 116.12% | 491.98% | 179.5% | - |
| Net Income | 40.37M | 37.45M | 25.81M | 30.7M | 34.99M | 40.1M | 16.18M | 24.11M | 24.3M | 16.4M | 14M | 12.19M | 11.82M | 21.38M | 8.04M | 841.68K | -17.67M | -16.14M | 720.85K | 2.48M | 2.81M | 2.16M | 1.04M | -968.32K |
| Depreciation & Amortization | 4.12M | 4.29M | 4.02M | 4.07M | 3.73M | 3.38M | 3.44M | 3.92M | 4.03M | 3.35M | 3.08M | 3.19M | 1.06M | 891.8K | 502.15K | 653.35K | 872.96K | 984.89K | 1.07M | 925.75K | 457.56K | 296.6K | 273.38K | 55.91K |
| Deferred Taxes | -3.54M | -3.85M | -7.98M | 4.1M | 12.17M | -1.95M | -3.67M | -2.57M | 641K | 1.73M | 39K | 1.46M | 1.5M | -7.62M | 0 | 48.19K | 4.03M | -804.36K | -822K | -825K | -695K | -911K | 0 | 0 |
| Other Non-Cash Items | 7.52M | -6.89M | -1.23M | 10.84M | 16.85M | -48.21M | 9.61M | 5.25M | -2.03M | -1.53M | 24.23M | 40.86M | 540K | 11.14M | 430.18K | 25.5M | 12.87M | 29.38M | 2.3M | 2.28M | 2.04M | 1.33M | -830.61K | 302.18K |
| Working Capital Changes | -4.53M | -5.39M | 17.87M | 13.14M | -11.02M | 4.6M | -9.17M | -1.29M | 3.09M | 557K | -1.95M | -1.14M | 2.86M | 1.85M | 716.88K | -427K | 3.87M | -2.62M | -1.02M | 0 | 1.6M | 0 | 0 | 0 |
| Cash from Investing | -168.66M | -200.14M | -311.74M | -275.27M | -356.67M | -175.22M | -132.82M | -61.9M | -168.12M | -215.51M | -213.95M | -183.35M | -146.28M | -141.59M | -115.56M | -7.47M | 19.12M | 34.53M | -91.98M | -160.38M | -116.42M | -97.96M | -58.27M | -35.62M |
| Purchase of Investments | -47.35M | -31.66M | -24.48M | -17.27M | -57.36M | -47.31M | -39.38M | -14.11M | -44.04M | -72.97M | -23.01M | -52.38M | -19.18M | -44.14M | -46.35M | -1.02M | -6M | -8.05M | -12.91M | -23.6M | -5.99M | -6.95M | 0 | 0 |
| Sale/Maturity of Investments | 26.8M | 24.2M | 19.76M | 17.86M | 23.2M | 41.08M | 38.49M | 67.36M | 24.66M | 21.04M | 23.84M | 11.96M | 23.28M | 22.62M | 2.7M | 2.62M | 7.11M | 10.7M | 25.02M | 14M | 0 | 0 | 0 | 0 |
| Net Investment Activity | -20.55M | -7.46M | -4.73M | 594K | -34.16M | -6.23M | -894K | 53.25M | -19.38M | -51.93M | 829K | -40.43M | 4.11M | -21.52M | -43.65M | 1.6M | 1.11M | 2.66M | 12.1M | -9.6M | -5.99M | -6.95M | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -146.63M | -190.49M | -302.94M | -274.55M | -317.05M | -168.56M | -130.14M | -114.44M | -147.6M | -162.29M | -212.8M | -140.52M | -149.74M | -118.46M | -71.6M | -8.87M | 18.22M | 31.95M | -103.89M | -148.36M | -108.15M | -90.84M | -58.19M | -34.57M |
| Cash from Financing | 176.8M | 181.9M | 229.2M | 307.24M | 243.14M | 186.03M | 163.6M | 15.74M | 226.05M | 198M | 166.76M | 135.92M | 124.33M | 123.54M | 56.72M | 7.32M | 18.11M | -26.77M | 73.65M | 114.08M | 112.65M | 145.05M | 68.02M | 53.88M |
| Dividends Paid | -12.06M | -11.81M | -11.04M | -9.91M | -8.95M | -6.66M | -6.15M | -3.96M | -1.76M | -1.61M | -1.38M | -882K | -1.23M | -3.65M | 0 | 0 | 0 | -358.06K | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -6.43M | -7.19M | -222K | -8.83M | -6.73M | -10.88M | -6.49M | -6.48M | 0 | 0 | 0 | 0 | 0 | -8.35M | 0 | 0 | 0 | 0 | 0 | -310K | 0 | 0 | 0 | 0 |
| Stock Issued | 729K | 2.28M | 0 | 0 | 0 | 0 | 0 | 0 | 45.04M | 134K | 15.19M | 0 | 5.94M | 0 | 0 | 3.8M | 18.74M | 3.64M | 6.1M | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -5.7M | -4.91M | -222K | -8.83M | -6.73M | -10.88M | -6.49M | -6.48M | 45.04M | 134K | 15.19M | 0 | 5.94M | -8.35M | 0 | 3.8M | 18.74M | 3.64M | 6.1M | -310K | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 2M | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | 0 | 0 | -853K | 0 | 0 | -1000K | 1000K | -1000K | 1000K | 1000K | 0 | 0 | 0 | 0 |
| Other Financing | 174.56M | 179.62M | 264.47M | 306.98M | 179.68M | 273.56M | 116.24M | 36.18M | 192.77M | 159.61M | 152.94M | 136.8M | 128.81M | 135.54M | 56.72M | 11.72M | -8.83M | -25.06M | 46.38M | 109.39M | 112.58M | 131.8M | 67.99M | 37M |
| Net Change in Cash | 53.06M | 8.35M | -43.55M | 95.31M | -56.25M | 9.19M | 47.87M | -16.05M | 88.61M | 3.71M | -7M | 9.41M | -3.98M | 9.73M | -49.12M | 27.04M | 37.61M | 21.5M | -14.6M | -40.93M | 2.43M | 49.97M | 10.24M | 17.64M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 207.14M | 198.79M | 242.34M | 147.03M | 203.28M | 194.1M | 146.23M | 162.27M | 73.66M | 69.95M | 76.95M | 67.54M | 71.52M | 61.79M | 110.91M | 83.87M | 46.26M | 24.75M | 39.35M | 80.28M | 77.85M | 27.88M | 17.64M | 0 |
| Cash at End | 267.4M | 207.14M | 198.79M | 242.34M | 147.03M | 203.28M | 194.1M | 146.23M | 162.27M | 73.66M | 69.95M | 76.95M | 67.54M | 71.52M | 61.79M | 110.91M | 83.87M | 46.26M | 24.75M | 39.35M | 80.28M | 77.85M | 27.88M | 17.64M |
| Interest Paid | 92.09M | 92.84M | 85.84M | 47.78M | 9.73M | 5.79M | 17.35M | 24.13M | 13.98M | 9.46M | 6.87M | 5.99M | 5.03M | 4.22M | 4.8M | 5.16M | 7.99M | 13.97M | 16.73M | 15.71M | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 23.13M | 23.05M | 6.37M | 4.28M | 13.98M | 14.98M | 10.05M | 13.38M | 7.57M | 12.06M | 11.58M | 8.85M | 5.71M | 2.83M | 104.05K | 260K | 3.14M | 1.17M | 1.78M | 3.23M | 0 | 0 | 0 | 0 |
| Free Cash Flow | 43.45M | 24.4M | 34.91M | 62.03M | 51.81M | -2.05M | 15.31M | 29.41M | 29.54M | 19.93M | 38.22M | 54.45M | 17.32M | 26.18M | 9.4M | 27M | 175.84K | 13.6M | 3.54M | 2.94M | 3.93M | 2.7M | 407.7K | -1.67M |
| FCF Growth % | 42.52% | -30.12% | -43.72% | 19.71% | 2631.22% | -113.37% | -47.95% | -0.45% | 48.24% | -47.85% | -29.81% | 214.4% | -33.85% | 178.34% | -65.16% | 15252.29% | -98.71% | 283.94% | 20.48% | -25.11% | 45.46% | 562.01% | 124.48% | - |
CRE and SBA concentration
Based on reported financial statements, PCB Bancorp has consistently generated positive net income, with 2026Q1 earnings of $10.7 million, providing a stable foundation for organic capital growth while maintaining a disciplined approach to dividend distributions that typically consume less than 30% of quarterly net income.
The bank's ability to retain the majority of its earnings suggests a prudent approach to capital management, which is essential given the inherent volatility of its SBA-driven revenue streams. This retention capacity provides a necessary buffer against potential credit deterioration within its concentrated commercial real estate portfolio.
According to recent SEC filings, PCB Bancorp's investment activity shows a pattern of periodic purchases, such as the $18.7 million deployed in 2026Q1, which are partially offset by consistent asset sales, indicating an active management strategy aimed at optimizing the yield profile of the bank's liquid assets.
The recurring nature of these investment sales suggests that the bank utilizes its securities portfolio as a secondary liquidity lever to manage interest rate risk. Investors should monitor whether these reinvestment cycles remain aligned with the bank's broader net interest margin objectives in a fluctuating rate environment.
As reported in quarterly data, PCB Bancorp maintains a consistent dividend payout, with $3.2 million distributed in 2026Q1, while keeping share buybacks at negligible levels, which appears to prioritize the preservation of regulatory capital over aggressive return of capital to shareholders during this expansionary phase.
The stability of the dividend suggests management's confidence in the bank's long-term earnings power, yet the minimal buyback activity implies a focus on retaining capital for potential loan growth or loss absorption. This conservative stance is appropriate given the bank's niche focus and the associated credit risks.
Based on the provided figures, PCB Bancorp's provision for credit losses has exhibited significant quarterly variance, ranging from a $1.8 million charge in 2025Q2 to a $381,000 release in 2025Q3, reflecting the sensitivity of the CECL framework to shifting macroeconomic forecasts and specific loan performance metrics.
This volatility in provisioning may obscure the underlying credit quality of the loan book, making it difficult to discern true loss trends without further granular disclosure. Analysts should interpret these fluctuations as a reflection of management's evolving risk outlook rather than immediate changes in asset quality.
Quick answers to the most common questions about buying PCB stock.
PCB Bancorp (PCB) generated $26.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
PCB Bancorp (PCB) generated $24.4M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
PCB Bancorp (PCB) spent $2.2M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, PCB Bancorp (PCB) returned $11.8M to shareholders via cash dividends and spent $7.2M on share repurchases. This shows the company's commitment to returning capital to its equity investors.